Share Certificates FAQs

• What’s the difference between a Share Certificate and a CD?
  

  A Share Certificate is simply the credit union version of a CD. Both let you set aside money for a specific term at a fixed rate, but CDs are offered by banks, while Share Certificates are offered by credit unions like Democracy FCU.

• How do CDs work?
  

  When you open a CD, you deposit a set amount of money for a fixed term, such as 6, 12, or 24 months. During that time, your funds earn dividends at a guaranteed rate. When the term ends, you can withdraw your money or renew your certificate.

• What is the minimum deposit to open a Share Certificate (CD)?
  

  Minimum deposits vary depending on the term and current promotions. Check our latest rates or contact Democracy FCU for details on opening requirements. 

• Can I withdraw my money early from a CD?
  

  You can withdraw before your certificate matures, but an early withdrawal penalty may apply. To maximize your earnings, we recommend holding your certificate until the end of its term.

• Can I open a CD online?
  

  Yes, you can open a CD online through our secure digital banking platform or by contacting us directly. Our team can help you choose the best term and amount for your savings goals. 

• Are CDs safe?
  

  Yes! All Share Certificates (CDs) at Democracy FCU are federally insured by the National Credit Union Administration (NCUA) up to $250,000 per member.

• What are the benefits of a CD?
  

  CDs help you grow your savings faster by offering higher, fixed dividend rates than typical savings accounts. By keeping your money on deposit for the full length of the term, you can maximize your earnings and watch your savings increase quickly.

• What is a CD?
  

  A Certificate of Deposit (CD) is a type of savings account that locks in your money for a fixed period while earning a guaranteed rate of return. It’s a safe, reliable way to grow your savings over time.